Medtronic reports a rise of 1.5% in its first quarter financial results

Medical device maker Medtronic Plc on Tuesday announced its financial results reporting a rise of 1.5% in its quarterly revenue, owing to the increased sales of its minimally invasive therapies business.

As reported, Medtronic Plc witnessed a fall in the net income attributable to the company to $864 million, or 64 cents per share from $1.08 billion, or 79 cents per share in the first quarter of the fiscal year 2020, which ended on July 26, 2019.

The company recorded a rise in net sales to $7.49 billion from $7.38 billion. Medtronic Plc incurred $609 million interest related expense in the reported quarter.